[markisus]

But you actually can make money honestly by finding mispricings in the market. Eg Buffet, or Burry during the housing crisis.

You can also make money through arbitrage or other brief financial blips that occur in the market.

These things aren't really scams in the normal sense.

[somuchfordonor]

> honestly by finding mispricings in the market. Eg Buffet, or Burry during the housing crisis.

Like who wants to be on the other side of a Jane Street transaction? Absolutely fucking nobody. If you're talking about "mispricings" during the "housing crisis," my dude, nobody wanted to sell their house to these dumb fucks! They were going to starve, they had no choice! How does that not seem like a scam of some sort to you? That's not honest money!

Those 20 year olds with Math degrees from Harvard. They don't fucking know anything dude, they did not discover a model, they did not make a model with a price that says price is lower than this other price, then persuade some people to make some bet. That's a parallel reconstruction, that's to justify whatever actual scam is going on. How do you not see that?

There's no common sense reason Math 55 equips you with some magical vision into pricing that actually winds up meaning anything. When it does, it might as well be random.

If the Mercers were good people, would they be Republicans? No dude. C'mon, use common sense. Don't get hung up on "normal sense." Use common sense.

If Sam Bankman-Fried was a good person, would he fuck $10b out of his own god damned customers' money?

No dude, he's made some unspecific, previously-bankrupt-and-now-literally-bankrupt promise to donate some money to something somewhere in the future, to whitewash the fact that he just went around fucking everyone.

I mean get a grip Effective Altruists, whose guts I hate too, and whose energy is the stereotype of the student I am talking about - the same students! - where they get this readily packaged "religion" that happens to align exactly with their meaning-bankrupt approach to life.

So don't even get on it with the "honest" money. I can find the venture capitalists who take some dumb person's money and then hand it over to something risky and interesting: I see how VC is honest, it's just not necessarily intelligent, but it's redeemable. But the Jane Street people: No dude. Not Warren Buffet, not Burry, none of those vultures.

[adamsmith143]

>Like who wants to be on the other side of a Jane Street transaction? Absolutely fucking nobody. If you're talking about "mispricings" during the "housing crisis," my dude, nobody wanted to sell their house to these dumb fucks! They were going to starve, they had no choice! How does that not seem like a scam of some sort to you? That's not honest money!

This comment makes me think you don't have the slightest idea of how the financial sector works, how Warren Buffet makes money, what happened in 07-08 or how Michael Burry made money during the crisis.

>If the Mercers were good people, would they be Republicans? No dude. C'mon, use common sense. Don't get hung up on "normal sense." Use common sense.

This comment makes me think you are just a troll.

>But the Jane Street people: No dude. Not Warren Buffet, not Burry, none of those vultures.

This is just ignorant. If Warren Buffet looks at Coca-Cola and thinks hey this stock is under-priced and will be worth more in the next decade and makes 10B off it there's no scam involved. Michael Burry evidently read through hundreds of Mortgage Backed Securities and saw that the underlying assets were more risky then they were priced at and made a killing betting against them. No scam. I'm not privy to what Jane Street's techniques are but it's most likely some ML driven search for alpha but again nothing screams scam. They aren't taking retail investor money, you couldn't invest with them even if you wanted to. Where's the scam?

All of your posts reek of paranoid delusions frankly.

[donavanm]

> If you're talking about "mispricings" during the "housing crisis," my dude, nobody wanted to sell their house to these dumb fucks! They were going to starve, they had no choice!

This seems like a pretty gross misunderstanding of all of the very basic finance here. It was NEVER “their house.” A lender let them live their while they payed off a long term contract. They lost it when they could no longer make basic payments OR sort out deferment or other basic accommodations to the existing contract.

> How does that not seem like a scam of some sort to you?

The “scam” that caught your average homeowner wasnt foreclosure. It was the moment someone convinced them could have free money by signing a mortgage at 20x their annual income, 100% ltv, and a 5% adjustable rate. And when they tried to take money off the table with a HELOC they doubled down in to the unsustainable fantasy. They were already blown out and just didnt understand it yet.

Your burys et al werent part of that. they were there to sink the bigger fish who were trading this monopoly money around.

[tedunangst]

How many houses do you think Jane Street was buying up?